Martin at a glance
- Population: about 11,000, 57th by size in Tennessee of 344 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 10,825 (US Census Bureau).
- 2020 to 2023 change: about 1.6% growth over the 2020 Census base (US Census Bureau).
- Rank among Tennessee places: 57th out of 344 Census places (US Census Bureau).
- Size percentile: ahead of around 83% of Tennessee places in population terms (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 36.3379, -88.8514.
- Nearest larger cities: Murray, KY (35 mi); Dyersburg, TN (36 mi); Jackson, TN (47 mi); Paducah, KY (52 mi); Sikeston, MO (56 mi); US Census Bureau population estimates.
- Smaller towns nearby: Sharon, TN (7 mi); Dresden, TN (9 mi); South Fulton, TN (11 mi) (US Census Bureau).
What a personal loan costs in Martin
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Tennessee lending rules that apply in Martin
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | TDFI Compliance Division licenses industrial loan & thrift companies, deferred presentment companies, flexible credit companies, and other consumer lenders Source says: The Compliance Division is responsible for the licensing and regulatory supervision of the following types of financial institutions operating in Tennessee | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| State lending regulator | Tennessee Department of Financial Institutions (TDFI) Source says: The Department regulates banks, credit unions, trust companies, business and industrial development corporations, industrial loan and thrift companies | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10.75% per annum (maximum effective formula rate for written contracts, announced September 15, 2026) Source says: the maximum effective formula rate of interest in Tennessee is 10.75 percent per annum | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Payday lending status | Licensed; deferred presentment services (payday) lenders must obtain a TDFI license, including internet lenders (Tenn. Code Ann. § 45-17-103) Source says: deferred presentment services in this state through the use of the internet, facsimile, telephone, or other means without having first obtained a license | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
How to compare offers in Martin
These steps are the ones that most affect the offer you receive in Martin:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Tennessee using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.